Bankruptcy information document

When you are made bankrupt, a trustee is appointed to help guide you through the process and manage your bankruptcy.

This will be either Accountant in Bankruptcy (AiB) - a Scottish Government agency, or a private insolvency practitioner.

Your trustee will:

• assess your financial situation
• deal with any assets you own (which may include selling them)
• collect regular payments from your income if you can afford to make them

It’s important that you stay in touch with your trustee and be honest with them. If you do not, your bankruptcy could last longer or lead to legal action against you.

Your trustee may require you to complete a short financial education course if they believe it would benefit you.